NEW YORK, Sept. 21 /PRNewswire-FirstCall/ -- Alliance All-Market Advantage Fund, Inc. [NYSE: AMO] (the "Fund") today released its monthly portfolio update as of August 31, 2005. Alliance All-Market Advantage Fund, Inc. Top 10 Equity Holdings Portfolio% Country 1) Yahoo Inc. 4.20% United States 2) Google Inc Class A 4.10% United States 3) Apple Computer Inc 4.06% United States 4) Broadcom Corporation 3.59% United States 5) Genentech Inc 3.52% United States 6) Dell Inc 3.48% United States 7) Qualcomm Incorporated 3.40% United States 8) eBay Inc 3.38% United States 9) Halliburton Co 3.37% United States 10) Corning Inc 3.24% United States Sector/Industry Breakdown Portfolio% Technology: Communication Equipment 10.18% Semiconductor Components 8.23% Computer Hardware/Storage 7.55% Internet Media 4.10% Software 0.57% Computer Peripherals 0.40% SUBTOTAL 31.03% Healthcare: Biotechnology 7.86% Medical Products 6.75% Medical Services 4.07% Drugs 2.62% SUBTOTAL 21.30% Consumer Services: Retail - General Merchandise 7.76% Miscellaneous 6.93% Broadcasting & Cable 2.16% Entertainment & Leisure 1.00% Advertising 0.52% SUBTOTAL 18.37% Finance: Brokerage & Money Management 6.43% Insurance 2.56% Banking - Regional 0.58% SUBTOTAL 9.57% Energy: Oil Service 5.98% Domestic Producers 0.57% SUBTOTAL 6.55% Consumer Staples: Household Products 3.04% Retail - Food & Drug 1.04% SUBTOTAL 4.08% Capital Goods 1.55% Consumer Manufacturing 0.64% Aerospace & Defense 0.49% Short-term 6.42% Total 100.00% Security Type Breakdown Portfolio% Domestic Equity 83.34% Foreign Equity 10.24% Short-term 6.42% Total 100.00% Country Breakdown Portfolio% United States 83.33% Switzerland 3.04% Israel 2.62% Bermuda 2.61% Panama 1.00% Cayman Islands 0.49% Taiwan 0.49% Short-term 6.42% Total 100.00% Portfolio Statistics Total Net Assets: $51.3 Million Net Asset Value: $13.93 Number of Holdings: 56 The foregoing portfolio characteristics are as of the date indicated and can be expected to change. The Fund is a closed-end U.S.-registered management investment company advised by Alliance Capital Management L. P. DATASOURCE: Alliance All-Market Advantage Fund, Inc. CONTACT: Shareholder Contact for Alliance All-Market Advantage Fund, Inc., 1-800-221-5672 Web site: http://www.alliancecapital.com/

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